Bitcoin bust: Sydney detectives seize $1 million in alleged money laundering syndicate

Cybercrime detectives in Sydney have seized $1 million in cash and charged a man who allegedly ran a criminal syndicate that laundered money through cryptocurrency.

Strike Force Curns was set up in October to investigate the syndicate and on Monday officers arrested a 30-year-old man following a vehicle stop in Strathfield in Sydney’s inner west.

During a subsequent search detectives seized two bags containing $1 million cash, police said in a statement.

A further search of a home at…